Credit rating agency, CRISIL has upgraded its rating on Development Credit Bank’s (DCB) Lower Tier-II bonds to ‘A-/Stable’ from ‘BBB+/ Positive’. The rating agency has also upgraded the rating on the bank’s certificate of deposits programme to ‘A1+’ from ‘A1’.
The bank has reported 72.06% rise in its net profit at Rs 26.91 crore for third quarter ended December 31, 2012 as compared to Rs 15.64 crore for the same quarter in the previous year. Total income of the bank has increased by 23.48% at Rs 258.33 crore for quarter under review as compared to Rs 209.20 crore for the quarter ended December 31, 2011.
The bank’s gross NPA for the December 31, 2012 quarter of the current fiscal stood at 3.80%, as compared to 5.67% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 0.73% as compared to 1.03% in the same quarter of the previous year.
